IN BRIEF: Prospex Energy raises GBP500,000 for gas production in Italy

Mon, 05th Sep 2022 11:24

Prospex Energy PLC - exploration investments in Spain and Italy - Raises GBP500,000 via issuing unsecured convertible loan notes to existing and new investors.

The proceeds will go towards its first gas production at Selva in Italy, London-based firm says.

Says it is on schedule for first gas from Selva field in the second quarter of 2023.

Company holds a 37% working interest in the Podere Maiar licence. In July, Prospex received approval for production concession at Podere Maiar gas field in the Po Valley onshore in northern Italy, within the Selva Malvezzi production concession.

Current stock price: 6.40 pence, up 14% on Monday

12-month change: up 78%

By Tom Budszus; tombudszus@alliancenews.com

Related Shares

More News

19 Jun 2024 09:05

Prospex Energy notes progress by Selva Malvezzi site operator

(Alliance News) - Prospex Energy PLC on Wednesday noted Po Valley Energy Ltd's announcement, confirming that an annulment of the plan of areas has not...

14 May 2024 16:53

EARNINGS AND TRADING: Various Eateries and Luceco see sales climb

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reporte...

3 May 2024 16:48

TRADING UPDATES: Fletcher King sees materially higher full-year sales

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

3 May 2024 11:02

Prospex Energy reports progress at Selva Malvezzi

(Sharecast News) - Prospex Energy updated the market on the Selva Malvezzi production concession in Italy on Friday, following a first-quarter activit...

27 Mar 2024 13:55

Prospex Energy settles GBP175,200 convertible loan note repayments

(Alliance News) - Prospex Energy PLC shares rose on Wednesday, after it said it settled the third and final capital repayment plus accrued interest fr...